Template:M summ 2002 ISDA 4(c): Difference between revisions

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Hardly controversial that one must obey the law, but note this apparently inoffensive [[covenant]] converts that general public obligation into a [[Contractual damages|private civil one]], with definitive commercial consequences to your counterparty, hence the couching of the language in terms of materiality (twice) and specific ability to perform obligations under the {{isdama}}.
{{isda 4(c) summ|{{{1}}}}}

Latest revision as of 12:39, 24 December 2023

Hardly controversial that one must obey the law, but note this apparently inoffensive covenant converts that general public obligation into a private civil one, with definitive commercial consequences to your counterparty, hence the couching of the language in terms of materiality (twice) and specific ability to perform obligations under the ISDA Master Agreement.

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